The Trump administration is discussing a surprising option to help fulfill his campaign-trail promises: Allowing the richest Americans’ tax rates to rise in return for cutting taxes on tips, a senior White House official tells Axios.
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I’ve heard that the reason why the wealthy support this is because then executive compensation can be designated as tips, and then they won’t have to pay taxes.
It sounds like the kind of fantasy that would make sense to them, blinded by their ferocious greed, without realizing that such a tax arrangement would come with strict rules about what constitutes a tip.
Distract from signal. Wonder what lies we’ll hear right before midterms.
Plot twist: Every CEO is now paid in “tips”.